Oil & Gas Industry News

The North African nation of 47 million people has long relied on some of the continent's largest oil and gas reserves to pay for many of its subsidies.

Brent closed above $100 for a second session while traders weigh war risks and extreme volatility.

Iran has vowed to keep the strait closed, but whether it's actually mining the area is contested.

No one in their right mind would dare to sit short oil over the coming weekend, SEB Chief Commodities Analyst Bjarne Schieldrop said.

Oil surged as Gulf supply disruptions pushed Brent above $100 for the first time since 2022.

U.S. oil and gas hiring 'remains disciplined, not aggressive', Brian Binke, the President and CEO of Michigan based the Birmingham Group, told Rigzone.

The U.S. Navy could start escorting tankers through the Strait of Hormuz by the end of this month, Energy Secretary Chris Wright said.

'Threats to the energy structure in the Middle East have kept oil prices bid', Aaron Hill, Chief Market Analyst at FP Markets, said.

Oil climbed sharply as traders focused on supply disruptions from the Iran conflict despite a massive global reserve release.

The International Energy Agency agreed to discharge 400 million barrels from emergency oil reserves.